The company has granted a 30-day option to the underwriters to purchase up to an additional 15% of the offering to cover over-allotments. The net proceeds to the company of the offering are approximately $24 million, after payment of underwriting discounts and commissions, but excluding estimated offering expenses.
BMO Capital Markets and Canaccord Adams acted as joint book-running managers for the offering, with Merriman Curhan Ford & Company acting as a co-manager. These shares were issued pursuant to an effective shelf registration statement.